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His Majesty’s Treasury launched a consultation on improving the effectiveness of the Money Laundering Regulations (MLRs).
This consultation includes consideration of how best to support the use of digital identity when verifying customers.
OIX ran two workshops in May 2024 for members to discuss and agree how OIX should respond as a collective on behalf of members.
You can find His Majesty’s Treasury full consultation document HERE
This was an open consultation process and OIX was invited to give their collated feedback by 9th June 2024 - this is response that was submitted.
Please note: Ofcom is a member of the Open Identity Exchange. No representative of Ofcom has been part of the production of this response. This content of this response represents the collective view of Open Identity Exchange members other than Ofcom. The response does not represent the views of Ofcom as a member of OIX.
You can also read OIX's response to the OFCOM call for evidence which was focused on additional duties for categorised services under the Online Safety Act 202; also published in the OIX library for members, HERE